By Yvonne Lee and Prudence Ho
HONG KONG–Two Chinese online-game firms are seeking to raise a combined total of up to US$300 million from Hong Kong initial public offerings this year, even as recent listings in the sector have been sold off by investors.

Beijing-based Ourgame International Holdings Ltd. is planning to raise US$80 million to US$100 million in Hong Kong and seek approval from the Hong Kong Stock Exchange next Thursday. Should it receive listing approval, the online-game developer, whose games includes “Fight the Landlord,” could list in the city in the third quarter, people with direct knowledge of the deal said Tuesday.

Also gearing up for a Hong Kong IPO is Linekong Interactive Co., which is planning to raise around US$200 million in the second half of the year. The Beijing-based company, whose mobile offerings include a 3-D fighting game called “Sword of Heaven,” has hired Citigroup Inc., CCB International (Holdings) Ltd. and Macquarie Group to handle the listing, other people with direct knowledge of the deal said.

The offerings come despite broad weakness in the city’s IPO market and a monthlong pullback in stock prices for both Chinese and U.S. Internet companies, including Twitter, whose shares have fallen 13% since the beginning of April. Chinese online-gaming companies have been especially hard hit in Hong Kong trade: Shares of children’s online-game developer Baioo Family Interactive Ltd., which raised $196 million a few weeks ago, have fallen 43% in Hong Kong since listing in April. Forgame Holdings Ltd., which raised $237 million in September, has dropped 41% since the beginning of this year. Game companies have flocked to list in Hong Kong recently, partly because valuations for companies listed on the city’s stock exchange are often similar to, or higher than, those of their U.S.-listed counterparts.

However, many of those companies are being sold as investors question their ability to come up with hit games. Tech stocks as a whole have been suffering recently. Earlier this month, Weibo Corp., China’s version of Twitter, raised $286 million in its initial public offering in New York, falling short of expectations.

Founded in 1998, Ourgame owns over 200 Internet and mobile games including “Texas Hold’em,” and “Mahjong,” attracting 10 million active users each week, the people said. Ourgame hired China International Capital Corp. and Jefferies to handle the listing.

Write to Yvonne Lee at yvonne.lee@wsj.com and Prudence Ho at prudence.ho@wsj.com

Email *Please fill in the required field. By clicking submit, I agree to the Privacy Policy and Cookie Policy and I understand I will receive marketing communications from Dow Jones professional information products from which I may unsubscribe using the links provided.

Thank you

Thank you for subscribing, your information has been submitted successfully.